Independence Realty Trust, Inc. (NYSE:IRT) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 322,226 shares of the real estate investment trust’s stock after acquiring an additional 2,673 shares during the period. Public Employees Retirement System of Ohio’s holdings in Independence Realty Trust were worth $6,606,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in Independence Realty Trust during the 2nd quarter worth about $25,000. Mattson Financial Services LLC acquired a new stake in shares of Independence Realty Trust during the 2nd quarter worth about $28,000. V Square Quantitative Management LLC acquired a new position in shares of Independence Realty Trust in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in shares of Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares during the period. Finally, Assetmark Inc. acquired a new stake in Independence Realty Trust during the third quarter worth approximately $41,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $21.41 on Friday. The stock has a 50-day simple moving average of $20.52 and a 200-day simple moving average of $19.64. The stock has a market capitalization of $4.82 billion, a P/E ratio of 79.30, a PEG ratio of 3.07 and a beta of 1.19. Independence Realty Trust, Inc. has a 1 year low of $14.07 and a 1 year high of $22.26.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, September 30th. Independence Realty Trust’s payout ratio is currently 237.04%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. KeyCorp increased their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. JMP Securities lifted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.43.

Independence Realty Trust Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.